VIETNAM PLANS DEVELOPMENT OF 4G SERVICES
[03-03-2015] Vietnam is expected to start developing 4G services by the end of 2015, experts believe, adding that the services will ensure competitiveness and enjoy widespread popularity. According to Doan Quang Hoan, director of the Vietnam Authority of Radio Frequency Management, the country has been making efforts to adopt frequency bands for the development of 4G services, foreseeing the trends in new technologies.
HONG KONG FIRM INVESTS IN HIGH-END HCM CITY APARTMENT
[03-03-2015] Hong Kong-based private-equity, real estate and financial investment player Hamon Group and Vietnamese property company SonKim Land have last week signed an agreement to develop a high-end property project in HCM City's in District 2 called Gateway Thao Dien.
AREA CODES FOR FIXED LINES CHANGED
[01-03-0215] The Ministry of Information and Communications issued Circular 22/2014/TT-BTTTT dated December 22, 2014 on telecommunication number storages, which covers changes to provincial area codes for fixed lines, applicable since March 1.
LEGAL DOCUMENTS €“ JANUARY 2015
[02-03-2015] The Government and the Prime Minister issued 10 decrees and three decisions, respectively, in January 2015:
Decrees:
FOREIGN WORKERS MUST STAY UP-TO-DATE ON RESIDENCE RULES
[28-02-2015] Foreign employees can reside in Viet Nam either temporarily or permanently, depending on certain conditions.
WAGES INCREASED FOR LOW-INCOME OFFICIALS
[26-02-2015] The Government has issued a Decree on increasing salaries for civil and public servants, officials working at the armed forces and employees of socio-political organizations with a salary grade at or below 2.34. Accordingly, these subjects will enjoy an 8% added to their monthly wage since January 1, 2015. The additional wage would be calculated using the formula: salary grade x minimum wage (1,150,000 VND) x 8%.
PWC: DECREE 12 GUIDING THE NEW AMENDED TAX LAW
[03-03-2015] The Government issued Decree 12/2015/ND-CP on 12 February 2015 (“Decree 12”) providing guidance on the tax changes approved by the National Assembly under Law 71/2014/QH13 (please refer to ourNews Brief dated 26 November 2014). Decree 12 is effective from1 January 2015.
BUDGET 2015-16 HIGHLIGHTS
[27-02-2015] On 25 February 2015, the Financial Secretary of the Hong Kong SAR Government, Mr John C Tsang, delivered his 2015 Budget. As Mr Tsang outlined, our economy grew 2.3% in 2014, and he projected that our economy would grow 1 - 3 % in 2015. He forecast that the headline inflation rate for 2015 would be 3.5% with an underlying inflation rate at 3%.
